Azerbaijan’s robust economy enables pursuit of independent foreign policy

“Azerbaijan’s robust economy enables the pursuit of an independent foreign policy,” the President of Azerbaijan, Ilham Aliyev, said while addressing the Summit of the United Nations Special Program for the Economies of Central Asia (SPECA), Azernews reports.

“In the last 20 years, Azerbaijan’s GDP has grown by four times. Budget revenues have increased by 30 times and foreign trade turnover by more than 10 times," the president noted. He added that Azerbaijan’s direct foreign debt currently accounts for 10 percent of its GDP, and foreign exchange reserves exceed the country's direct foreign debt by 10 times.

According to the head of state, the poverty level has dropped from 50 to 5.5. percent.